Claim Settlement Ratio of 99.23%~

Bajaj Allianz Elite Assure

A Non-linked Participating Endowment Life Insurance Plan

Attractive return on investment and life cover
Guaranteed loyalty additions
Multiple rider benefits
Option of regular or limited payment terms
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  • Overview

  • Key Advantages

  • How this works

  • Eligibility

  • Downloads

  • Sample Illustration

  • Policy Benefits

Sometimes attaining a perfect balance may seem near impossible. However, when it comes to protecting your loved ones along with having a strong investment proposition, Bajaj Allianz Life Insurance has got the balance just right. It brings to you a non-linked endowment insurance plan that offers these benefits in a single product, making it a thorough proposition for you.

Bajaj Allianz Elite Assure provides a life cover along with attractive return on investments. While life cover makes sure that your family members are able to pursue their life goals even in your absence, the returns ensure that your investments are working as hard as you are towards your life goals.

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Loan Facility

Under this plan, the life assured can avail loan up to 90% of the surrendered value.

Balance of life cover and attractive returns

Enjoy potentially attractive returns from your investment, as the product comes with guaranteed maturity benefit (GMB), guaranteed loyalty additions, and bonuses, along with a life cover.

Guaranteed Loyalty Additions

Depending on the premium payment term and policy term, the policy offers guaranteed loyalty additions of up to 315% of the GMB.

Multiple Policy Terms

It offers multiple policy terms of 15, 20, 25 and 30 years.

Two options for Premium Payment Term

You can either pay a regular premium over the full policy term or pay the premium for a limited period of 5, 7 or 10 years.

Multiple Rider Options

Option to enhance your cover by opting for one or more riders from the five available under the policy at a nominal extra cost.

High Sum Assured Rebate

This plan offers a premium rebate if the chosen GMB is greater than ₹ 5 lakh.

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Choose your Policy Term

You can customize your policy to suit your requirement

Choose your Premium Paying Term
Choose your Premium Payment Frequency
Choose your Guaranteed Maturity Benefit (GMB)

(Your premium will be based on GMB, age, policy term, premium payment term and premium payment frequency. Your Sum Assured is 10 times of Annualised Premium)

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Entry Age

Minimum age is 0 year

 

Risk cover will commence immediately on the date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority (i.e., 18 years age last birthday) or on maturity date.

Maximum age is 55 years

Maturity Age

Minimum Age at Maturity is 18 years

Maximum Age at Maturity is 70 years

Policy Term

15, 20, 25 and 30 years

Premium Paying Term

 

5, 7, 10 & equal to Policy Term

Premium

As per the chosen Guaranteed Maturity Benefit

Sum Assured

10 times of Annualized Premium

Guaranteed Maturity Benefit (GMB)

Minimum: ₹ 3,00,000

Maximum: No Limit

Premium Payment Frequency

Yearly, Half yearly, Quarterly and Monthly#

#The monthly mode will be allowed only under salary deduction scheme and ECS

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Brochure

Download

Policy Document

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Product Presentation

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  • Maturity Benefit
  • Death Benefit

He has taken Bajaj Allianz Elite Assure and opted for a policy term and premium paying term of 25 years. He chose a GMB of ₹ 6,00,000, for which he would be paying a premium of ₹ 58,952 yearly. Sum Assured = 10 times of Annualised Premium* = ₹ 5,89,520 *Annualized Premium is exclusive of extra premium, rider premium and Goods and Service Tax, if any

Naresh, 30 years old

The Maturity Benefit based on the assumed investment return, are given in below table :
Policy Term: 25 Years

 

At  Assumed investment return**

Guaranteed Maturity Benefit (GMB)

Guaranteed Loyalty Additions (GLA)

Vested Bonus(if any) (VB)

Total

@8%

6,00,000

14,40,000

15,56,274

35,96,274

@4%

6,00,000

14,40,000

-

20,40,000

Note:
Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

**The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

Vested Bonus (if any ) at the assumed investment return is not guaranteed and is for illustrative purpose only.

The Maturity Benefit demonstrated at 4% and 8% does not include Terminal Bonus (if any). Terminal Bonus (if any) , shall become payable along with Maturity Benefit.

He has taken Bajaj Allianz Elite Assure and opted for a policy term and premium paying term of 25 years. He chose a GMB of ₹ 6,00,000, for which he would be paying a premium of ₹ 58,952 yearly. Sum Assured = 10 times of Annualised Premium* = ₹ 5,89,520 *Annualized Premium is exclusive of extra premium, rider premium and Goods and Service Tax, if any

Naresh, 30 years old

In case of unfortunate death of Naresh during the 17th policy year, the Death Benefit based on the assumed investment return, are given in below table :
Policy Term: 25 Years

 

At Assumed investment return**

Guaranteed Maturity Benefit (GMB)

Guaranteed Loyalty Additions (GLA)

Vested Bonus (if any)(VB)

Total

@8%

6,00,000

7,20,000

8,31,947

21,51,947

@4%

6,00,000

7,20,000

-

13,20,000

Note:
Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

**The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

Vested Bonus (if any) at the assumed investment return is not guaranteed and is for illustrative purpose only.

The death Benefit demonstrated at 4% and 8% does not include Terminal Bonus (if any). Terminal Bonus (if any), shall become payable along with Death Benefit.

Maturity Benefit

The Maturity Benefit is Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Vested Bonus (if any)(VB) plus Interim Bonus (IB), if any, plus Terminal Bonus (TB), if any. VB as declared, will be attached every policy year starting from your first policy year

  • - GLA, as % of GMB, will be attached to the policy at the end of each policy year starting from the end of 10th policy year.

  • - GLA, as % of GMB and the total GLA payable at maturity depends on the premium payment term and policy term chosen as shown in the table below:

Premium Payment Term (years) 5 7 10 15 20 25 30
Policy Term (years) 15 20 25 30 15 20 25 30 15 20 25 30 15 20 25 30
Guaranteed Loyalty Additions 3% 3% 3% 3% 3% 3% 3% 3% 7% 7% 7% 7% 15% 15% 15% 15%
Total Guaranteed Loyalty Additions  18% 33% 48% 63% 18% 33% 48% 63% 42% 77% 112% 147% 90% 165% 240% 315%

Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the Life Assured during the policy term, the death benefit payable will be Sum Assured on Death1 plus Guaranteed Loyalty Additions plus Vested Bonus (if any) plus Interim Bonus ( if any) plus, Terminal Bonus (if any), subject to Guaranteed Death Benefit of 105% of the total premiums* paid till the date of death.

1 Sum Assured on Death is the higher of:

  • - Guaranteed Maturity Benefit

  • - Sum Assured

Total premium is exclusive of extra premium, rider premium, Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.

Additional Rider Benefits

You can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost. The riders currently available with Bajaj Allianz Elite Assure are:

Sr. no

Rider

UIN

1

Bajaj Allianz Accidental Death Benefit Rider

UIN: 116B034V02

2

Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider

UIN: 116B036V02

3

Bajaj Allianz Critical Illness Benefit Rider

UIN: 116B035V02

4

Bajaj Allianz Family Income Benefit Rider

UIN: 116B037V02

5

Bajaj Allianz Waiver of Premium Benefit Rider

UIN: 116B031V02

Please refer to respective rider sales literature or visit Company website or consult your 'Insurance Consultant' for more details and eligibility conditions.

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Why Bajaj Allianz Life Insurance ?

99.23%
Claim Settlement Ratio of 99.23%~
1 Day
1 Day Claim Approval%
AAA Rating
AAA; Stable Rating by CARE$
₹1,09,829Cr
Assets Under Management (AUM)**
4.19 Cr
Number of Lives Covered#
432%
Solvency Ratio^

Disclaimer:~Individual Death Claim Settlement Ratio for FY 2023-2024 | %96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices. | $For details refer to press release published by CARE | **All figures as on 31 March, 2024 | ^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150%. | #Individual & Group.

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